January 5 news, according to data compiled for TechCrunch by financial tracker PitchBook, global generative artificial intelligence companies raised US$56 billion from venture capital in 2024, involving 885 transactions. The cash total set a new record in the field. That’s a 192% increase from 2023, when investors poured $29.1 billion into generative AI startups across 691 deals. Among them, the transaction value in the fourth quarter of 2024 soared to US$31.1 billion, mainly due to the completion of some huge financing, such as Databricks’ US$10 billion Series J financing, xAI’s US$6 billion Series C financing, and Anthropic’s acquisition of Amazon’s US$4 billion. US dollar strategic investment and OpenAI’s US$6.6 billion financing.